Business & Markets

Phillips 66 Plans Crude Export Terminal, New Pipelines Offshore Texas

Phillips 66 confirmed plans for a deepwater crude export terminal off the Texas Gulf Coast to transport production from the Permian and Bakken basins to international markets via its recently announced Red Oak and Liberty pipelines.

Canadian Oil Sector Anticipates Nod for Trans Mountain Pipeline Expansion

Canada's energy sector and politicians across the spectrum were anticipating the government would approve a hotly contested oil pipeline expansion on Tuesday after years of debate and court challenges.

Anadarko to Proceed with $20 Billion Mozambique LNG Project

Anadarko Petroleum Corp has formally sanctioned the construction of a $20 billion gas liquefaction and export terminal in Mozambique, energy consultant Wood MacKenzie said Tuesday. It is the largest single LNG project ever sanctioned in Africa.

Egypt Agrees to Pay Israel $500 Million to End Gas Dispute

Egypt says it has struck a deal with the state-owned Israel Electric Corp to settle a fine for halting deliveries of natural gas.

U.S. Shale Oil Output to Rise to Record 8.52 MMbpd in July EIA

U.S. oil output from seven major shale formations is expected to rise by about 70,000 bpd in July to a record 8.52 million bpd, the U.S. Energy Information Administration said in its monthly drilling productivity report on Monday.

EQM Raises Cost, Delays Timing of Mountain Valley Pipeline

EQM Midstream Partners said Monday it has raised the estimated cost of its Mountain Valley gas pipeline from West Virginia to Virginia to $4.8-$5.0 billion and delayed its completion to mid-2020 due to ongoing legal and regulatory challenges.

U.S. Allows Iraq to Import Iranian Gas for 3 More Months

The United States has allowed Iraq to import Iranian gas for its power grid another three months by extending a waiver to sanctions - but insists that Baghdad seek alternative sources.

Russia's Transneft says Druzhba Pipeline to Resume on July 1

Russian pipeline monopoly Transneft expects the Druzhba pipeline to resume full operations from July 1, TASS news agency cited the company's vice president Sergey Andronov as saying on Friday.

U.S. Senator Introduces Bill to Sanction Nord Stream 2 Pipeline

U.S. Senator John Barrasso introduced a bill to slap sanctions on individuals and companies developing Russia's Nord Stream 2 natural gas pipeline, a day after President Trump said he was considering sanctions on the pipeline.

ExxonMobil to Expand Infrastructure for Growing Argentina Production

ExxonMobil announced it will proceed with a long-term oil development in Argentina's Vaca Muerta shale, including the construction of pipeline and export infrastructure to support an expected 55,000 oil-equivalent bpd by 2024.

Trump Considering Sanctions Over Russia's Nord Stream 2

U.S. President Donald Trump said on Wednesday he was considering sanctions over Russia's Nord Stream 2 natural gas pipeline project and warned Germany against being dependent on Russia for the fuel.

Major Restructuring of Middle East Gas Exports

In the Eastern Mediterranean, large discoveries of natural gas have been found off the coast of Israel and Egypt earlier in the decade. This together with increased demand for gas across the region are now reshaping both production and market demand, requiring construction of a series of new pipelines and LNG import and export facilities.

Bayou Bridge Launches Open Season for Expanded Joint Tariff Service

Bayou Bridge Pipeline launched a non-binding expansion open season to solicit shipper interest for expanded joint tariff transportation service received from certain connecting carriers onto the Bayou Bridge Pipeline System.

Tallgrass Tackles Project on Further Pony Express Pipeline Expansion

Tallgrass Energy is pursuing a project to support crude oil production in northern Weld County, Colo., near the border between Wyoming and Colorado. The Hereford Project will include 30 miles of 12-inch pipeline, as well as expanded capacity on the Pony Express system.

Tellurian Sets Binding Open Seasons for 2 Proposed Pipelines

Tellurian subsidiaries will begin separate open seasons on two proposed natural pipelines that will connect constrained shale production areas to the growing industrial market in Southwest Louisiana.

Magellan Optimistic About Cushing-to-Houston Crude Pipeline

Magellan Midstream Partners is confident a proposed Midland origin point will attract enough commitments from shippers to go forward with a crude pipeline from the oil storage hub in Cushing, Okla., to Houston, Chief Executive Michael Mears said.

New Cogent Pipeline to Connect Processing Complex to GCX

Cogent Midstream said it plans to build a new 400 MMcf/d pipeline to deliver residue gas from its Big Lake Natural Gas Processing Complex in the Midland Basin to the Gulf Coast Express Pipeline (GCX).

Rangeland Plans Crude Gathering Project in Alberta

Rangeland Midstream Canada plans to design, construct and operate new crude oil and condensate pipelines in the Marten Hills region of north central Alberta.

China to Raise Tariffs on LNG Imports from United States

China announced it would raise tariffs on LNG imports from the United States amid a series of additional levies, a move that could further reduce U.S. LNG shipments to the world’s fastest growing importer of the fuel.

$1.6 Billion Liberty Pipeline Construction to Proceed Under Phillips 66, Bridger JV

Phillips 66 and Bridger Pipeline announced that they are proceeding with construction of the $1.6 billion Liberty Pipeline from the Rockies and Bakken production areas to Cushing, Okla.

Phillips 66, Plains Sanction $2.5 Billion Red Oak Pipeline System

Plains All American Pipeline and Phillips 66 announced they will proceed with construction of the Red Oak Pipeline system in a new joint venture to transport crude oil from the Permian Basin and Cushing, Okla., to Houston and multiple locations along the Texas Gulf Coast.

Canadian Oil Pipeline Congestion Sets up Lucrative Storage Play

As Canadian oil production has outpaced pipeline takeaway capacity, demand for storage in the oil sands province of Alberta has increased.

Court Lifts Injunction Blocking Keystone XL Pipeline

An appeals court has lifted a judge's injunction that blocked construction of the Keystone XL oil pipeline from Canada to the U.S., but the developer has said it's too late to begin work this year and environmental groups vowed to keep fighting it.

Brazil Supreme Court Approves Sale of Petrobas Pipeline Unit

Brazil's Supreme Court ruled on Thursday that state-run firms do not need congressional approval to sell their subsidiaries, a major victory for the government of President Jair Bolsonaro and state-run oil firm Petrobras.

Enbridge Seeks Michigan Court Ruling on Line 5 Pipeline Deal

Enbridge said will go to court after failing to strike a deal with Michigan Gov. Gretchen Whitmer on building an oil pipeline tunnel beneath the channel that connects Lakes Huron and Michigan.

5 Workers Hurt in Houston-Area Natural Gas Line Explosion

Five workers have been injured when a natural gas line exploded in a residential neighborhood southeast of Houston. The blast occurred as a CenterPoint Energy contractor was working along a line Thursday.

Talks Fall Through Over Shearwater Oil Field

BP is again seeking buyers for its stake in the Shearwater oilfield in the British North Sea after talks with Royal Dutch Shell fell through, industry and banking sources said.

U.S. Regulators Partially OK Cactus II Rate Structure

U.S. energy regulators partially approved the rate structure and terms of service for Plains All American Pipeline LP’s Cactus II crude and condensate line from the Permian Basin to the Corpus Christi, Texas, area.

Minnesota Court Rejects Environmental Assessment for Enbridge Line 3 Pipeline

A Minnesota court ruled on Monday that Enbridge Inc.'s environmental impact statement for replacement of its Line 3 oil pipeline is inadequate, raising the possibility of further delays.

Cheniere to Build Louisiana Sabine Pass 6 LNG Export Train

U.S. LNG company Cheniere Energy said on Monday it will build the sixth liquefaction train at its Sabine Pass LNG export terminal in Louisiana.